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WSJ What’s News

Mortgage Rates Top 7%

WSJ What’s News

The Wall Street Journal

News, Daily News

4.14.2K Ratings

🗓️ 17 August 2023

⏱️ 14 minutes

🧾️ Download transcript

Summary

P.M. Edition for Aug. 17. Mortgage rates hit their highest level in more than 20 years. Plus, the cost of child care is rising, even as inflation is easing. Reporter Christian Robles explains what it means for parents and providers. And, health insurance reporter Anna Wilde Mathews has more on a major health insurer's plans to scrap the drug-pricing playbook. Annmarie Fertoli hosts. Learn more about your ad choices. Visit megaphone.fm/adchoices

Transcript

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0:00.0

It's back to school time.

0:03.9

And this year, generative AI tools like ChatGPT and Bard are on a path to transform teaching

0:10.4

and learning.

0:11.6

People compare this to the printing press, to the calculator, the technology shift is orders

0:17.1

of magnitude larger than anything else we've seen.

0:20.5

So what could AI and education look like?

0:23.8

We'll explore that Monday's in August on Tech News Briefing from the Wall Street Journal.

0:30.0

Mortgage rates top 7% what it means for the housing market.

0:39.1

And for parents seeking childcare services, inflation isn't letting up.

0:43.2

Childcare costs for a lot of families are one of the biggest expenses.

0:47.4

I've talked to some families who say that childcare is actually a bigger expense than

0:50.9

their mortgage, than their car payments, you know, other big ticket items.

0:55.2

Plus, why a major health insurer wants to scrap the complicated drug pricing system.

1:00.2

It's Thursday, August 17th.

1:02.2

I'm Ann Marie for Tolly for the Wall Street Journal.

1:04.6

This is the PM edition of What's News, the top headlines and business stories that moved

1:08.9

the world today.

1:16.7

Mortgage rates have hit their highest level in more than 20 years.

1:20.0

The average rate rose to 7.09%, according to data released today, by Mortgage Giant

1:25.1

Freddie Mac.

1:26.2

The housing market is the sector of the economy hit most directly by the Federal Reserve's

1:30.0

rate hikes, which have raised borrowing costs.

...

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